Global Cryogenic Valve Market was valued at US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of XX % during a forecast period.
Cryogenic valve is mostly used for transportation and storage applications by various end-user industries. These valves are operated in very low temperature or thrilling cold applications to store or transport the LNG. Cryogenic valve is used in various applications includes Liquefied Ethylene, Propylene, and LPG applications.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Increasing usage of a cryogenic valve in wide end-user industries includes food & beverage, chemical, pharmaceutical industries and growing opportunities in transportation, LNG, and CNG is expected to drive the growth of the global cryogenic valve market. Increasing investments in the LNG sector is one of the key drivers of the cryogenic valve market. The rising demand for Floating Production Storage and Offloading (FPSO) vessels is also expected to increase the growth of the cryogenic valve market. Furthermore, Fluctuation in the pricing of metal is limiting the global cryogenic valve market growth.
Growing demand from chemical industries and energy industries is offering major opportunities in the global cryogenic valve market. Operative safety related to liquid gas and high operation and conservation cost are challenges in the global cryogenic valve market.
A ball valve is projected to lead Global cryogenic valve market. It offers properties such as reliable and air sealing and also offer efficient flow characteristics over the other type of valves. These valves are fast and simple in operation and favored for automation. These valves have 90-degree rotational feature, which helps to opens and closes the valve inefficient and reliable way.
LNG segment is expected to grow at a high rate of CAGR during the forecast period. The growth is attributed to the increasing need for LNG and other industrial gases. The rising demand for the LNG trade across the globe is owing to its feature such as eco-friendly nature. Increasing demand for storage and transportation of the gases is expected to increase the demand for a cryogenic valve. Cryogenic valve is used in end-user industries such as food & beverage, chemical, pharmaceutical industries owing to provide safety and reliability operations.
The Asia Pacific is projected to lead the global cryogenic valve market during the forecast period. Increasing huge investments in the end-user industries include chemicals, electronics, metallurgy, and food & beverage is expected to boost the cryogenic valve market. The Countries from this region such as China, India, Australia, and Japan have massive demand for LNG, electronic equipment, chemicals, and metallurgy processes to meet the rising demand from residential and industrial sectors. Rapid industrialization in developing economies, growing propagation in the energy and power sector is expected to boost the cryogenic valve market growth. The demand for petrochemical products is increasing with time owing to the increasing necessity for equipment such as the cryogenic valves in transfer line application is estimated to grow rapidly.
The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global cryogenic valve market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
Scope of the Report for Global Cryogenic Valve Market
Global Cryogenic Valve Market, By Type
• Globe Valve
• Gate Valve
• Check Valve
• Ball Valve
Global Cryogenic Valve Market, By Gas
Global Cryogenic Valve Market, By End User
• Energy & Power
• Food & Beverage
• Oil & Gas
Global Cryogenic Valve Market, By Application
• Tanks & Cold Boxes
• Transfer lines
• Manifolds & Gas Trains
Global Cryogenic Valve Market, By Geography
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players in Global Cryogenic Valve Market
• Powell Valves
• Pfeiffer Chemie-Armaturenbau GmbH
• BAC Valves Online sl
• Bray International
• DFL ITALIA SRL
• Habonim Industrial Valves & Actuator
• Parker Bestobell
• Flowserve Corporation
• Herose Gmbh
• Emerson Electric Co
• L&T Valves Limited.
• Samson Controls Inc.
• Parker Hannifin Corp
• The Weir Group PLC
• Velan Inc
• Valco Group
This report submitted by Maximize market Research Company
Customization of the report:
Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities.
About Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Name: Lumawant Godage
Organization Address: MAXIMIZE MARKET RESEARCH PVT. LTD.
Address: Omkar Heights, Sinhagad Road, Manik Baug, Vadgaon Bk,Pune, Maharashtra 411051, India.